Trump annoyes Republican Lawmakers with possible cut of small Business Funds Program…

The plan has Democrats joining the GOPer’s in being against a possible cut in the Community Development Financial Institutions Fund…

But?…..Democrats COULD use the cuts, if they are made,  AGAINST Republicans going into the upcoming Midterm Elections Less than 2 years away…

Oh?

The Fund IS active in Red State’s also….

Republican lawmakers are expressing apprehension over a plan by the Trump administration to gut federal spending on a program some have called a “lifeline” for small businesses in districts and states they represent.

President Donald Trump issued an executive order late Friday directing agencies to eliminate “to the maximum extent” the Community Development Financial Institutions Fund — a longtime, bipartisan program that provides millions of dollars annually to lenders operating in poorer rural and urban areas underserved by big banks….

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“Military installations are often located in rural or lower-income regions lacking adequate financial infrastructure, and a large portion of junior enlisted service members meet the CDFI Fund’s ‘Low Income Targeted Population’ criteria,” the organization wrote in a letter to Hill, Scott, and Sen. Elizabeth Warren (D-Mass.) and Rep. Maxine Waters (D-Calif.), the ranking members of the Banking and Financial Services committees, respectively.

CDFIs cannot expand economic opportunity on “Main Street America” without the CDFI Fund, Jacokes said.

“The CDFI Fund provides the flexible capital for them to design products and services that meet the needs of low income places as well as people,” Jacokes said. “Now in the event of an economic downturn, policy makers will need CDFIs, because CDFIs have the unique ability to go deep into markets and promote recovery.”

One of the main reasons CDFI Funds are “nonpartisan” is that 92 percent of the 435 voting congressional districts have at least one CDFI physically located within and serving the local communities, with half of the districts Republican and half Democrat, Jacokes said.

“But if you break it down to the where the physical offices, the number of physical offices, 60 percent are in Republican-held districts,” Jacokes said….

More…

Note…

Of course Congress CAN vote to overule the President anytimes it gets it’s ‘ball’s’….